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For teaching purposes, this is the commentary-only version of the HBR case study. The case-only version is reprint R1109X. The complete case study and commentary is reprint R1109L.

Liu Peijin is the president of Almond China, a subsidiary of the German company Almond Chemical. Almond China's joint venture with Chongqing No. 2 Chemical Company, which is currently failing to thrive, involves a clash of views regarding business ethics. The Chongqing executives are chafing under European standards that preclude gifts and commissions-incentives routinely employed by Almond's competitors. And a huge sale for the joint venture may be at stake. But Liu is thinking of Almond's reputation and its future business dealings in China. Commentaries by Xu Shuibo, the CEO of TNT Mainland China's subsidiary TNT Hoau, and Zhang Tianbing, the global vice president and the director of the China Research Center at A.T. Kearney.

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For teaching purposes, this is the case-only version of the HBR case study. The commentary-only version is reprint R1109Z. The complete case study and commentary is reprint R1109L.

Liu Peijin is the president of Almond China, a subsidiary of the German company Almond Chemical. Almond China's joint venture with Chongqing No. 2 Chemical Company, which is currently failing to thrive, involves a clash of views regarding business ethics. The Chongqing executives are chafing under European standards that preclude gifts and commissions-incentives routinely employed by Almond's competitors. And a huge sale for the joint venture may be at stake. But Liu is thinking of Almond's reputation and its future business dealings in China. Commentaries by Xu Shuibo, the CEO of TNT Mainland China's subsidiary TNT Hoau, and Zhang Tianbing, the global vice president and the director of the China Research Center at A.T. Kearney.

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This HBR Case Study includes both the case and the commentary. For teaching purposes, this reprint is also available in two other versions: case study-only, reprint R1109X, and commentary-only, R1109Z.

Liu Peijin is the president of Almond China, a subsidiary of the German company Almond Chemical. Almond China's joint venture with Chongqing No. 2 Chemical Company, which is currently failing to thrive, involves a clash of views regarding business ethics. The Chongqing executives are chafing under European standards that preclude gifts and commissions-incentives routinely employed by Almond's competitors. And a huge sale for the joint venture may be at stake. But Liu is thinking of Almond's reputation and its future business dealings in China. Commentaries by Xu Shuibo, the CEO of TNT Mainland China's subsidiary TNT Hoau, and Zhang Tianbing, the global vice president and the director of the China Research Center at A.T. Kearney.

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For teaching purposes, this is the commentary-only version of the HBR case study. The case-only version is reprint R0308X. The complete case study and commentary is reprint R0308A.

Mike Graves, the general manager of a U.S. apparel company's 50/50 joint venture with a Chinese manufacturer, has made the joint venture into a big success, at least in the eyes of its Chinese executives and local officials. Zhong-Lian Knitting has turned around three money-losing businesses and has increased its payroll from 400 to 2,300 employees. But Mike's boss, the CEO of the U.S. company, Heartland Spindle, doesn't share the rosy view. He's looking for a 20% ROI, which he says will require laying off 1,200 Chinese workers. He also wants to aim at the high end of the clothing market, meaning the JV will have to meet much tougher standards of quality than it has been able to do so far. To make matters worse, the Chinese executives now want to make a fourth acquisition, which they hope will position the venture to start its own brand of apparel--a move that could eat into profits for years. Can Mike keep the joint venture from unraveling?

In R0308A and R0308Z four commentators offer expert advice in this fictional case study: Eric Jugier, the chairman of Michelin (China) Investment in Shanghai; Dieter Turowski, a managing director in mergers & acquisitions at Morgan Stanley in London; David Xu, a principal at McKinsey in Shanghai; and Paul W. Beamish, the director of the Asian Management Institute at the University of Western Ontario's Richard Ivey School of Business in Canada.

learning objective:

This case depicts the general manager of an American/Chinese joint venture partner striving to reconcile the two partners' conflicting visions for the venture. The reader considers the importance of aligning the JV partners' strategic goals, options for restructuring or exiting a troubled joint venture, and ideas for developing an overall JV strategy. The reader also weighs the unique challenges to doing business in China.

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For teaching purposes, this is the case-only version of the HBR case study. The commentary-only version is reprint R0308Z. The complete case study and commentary is reprint R0308A.

Mike Graves, the general manager of a U.S. apparel company's 50/50 joint venture with a Chinese manufacturer, has made the joint venture into a big success, at least in the eyes of its Chinese executives and local officials. Zhong-Lian Knitting has turned around three money-losing businesses and has increased its payroll from 400 to 2,300 employees. But Mike's boss, the CEO of the U.S. company, Heartland Spindle, doesn't share the rosy view. He's looking for a 20% ROI, which he says will require laying off 1,200 Chinese workers. He also wants to aim at the high end of the clothing market, meaning the JV will have to meet much tougher standards of quality than it has been able to do so far. To make matters worse, the Chinese executives now want to make a fourth acquisition, which they hope will position the venture to start its own brand of apparel--a move that could eat into profits for years. Can Mike keep the joint venture from unraveling?

In R0308A and R0308Z, four commentators offer expert advice on this fictional case study: Eric Jugier, the chairman of Michelin (China) Investment in Shanghai; Dieter Turowski, a managing director in mergers & acquisitions at Morgan Stanley in London; David Xu, a principal at McKinsey in Shanghai; and Paul W. Beamish, the director of the Asian Management Institute at the University of Western Ontario's Richard Ivey School of Business in Canada.

learning objective:

This case depicts the general manager of an American/Chinese joint venture partner striving to reconcile the two partners' conflicting visions for the venture. The reader considers the importance of aligning the JV partners' strategic goals, options for restructuring or exiting a troubled joint venture, and ideas for developing an overall JV strategy. The reader also weighs the unique challenges to doing business in China.

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THIS CASE STUDY INCLUDES BOTH THE CASE AND THE COMMENTARY. FOR TEACHING PURPOSES, THE REPRINT IS ALSO AVAILABLE IN TWO OTHER VERSIONS: CASE STUDY ONLY, REPRINT R0308X, AND COMMENTARY ONLY, REPRINT R0308Z.

Mike Graves, the general manager of a U.S. apparel company's 50/50 joint venture with a Chinese manufacturer, has made the joint venture into a big success, at least in the eyes of its Chinese executives and local officials. Zhong-Lian Knitting has turned around three money-losing businesses and has increased its payroll from 400 to 2,300 employees. But Mike's boss, the CEO of the U.S. company, Heartland Spindle, doesn't share the rosy view. He's looking for a 20% ROI, which he says will require laying off 1,200 Chinese workers. He also wants to aim at the high end of the clothing market, meaning the JV will have to meet much tougher standards of quality than it has been able to do so far. To make matters worse, the Chinese executives now want to make a fourth acquisition, which they hope will position the venture to start its own brand of apparel--a move that could eat into profits for years. Can Mike keep the joint venture from unraveling?

In R0308A and R0308Z, four commentators offer expert advice on this fictional case study: Eric Jugier, the chairman of Michelin (China) Investment in Shanghai; Dieter Turowski, a managing director in mergers & acquisitions at Morgan Stanley in London; David Xu, a principal at McKinsey in Shanghai; and Paul W. Beamish, the director of the Asian Management Institute at the University of Western Ontario's Richard Ivey School of Business in Canada.

learning objective:

This case depicts the general manager of an American/Chinese joint venture partner striving to reconcile the two partners' conflicting visions for the venture. The reader considers the importance of aligning the JV partners' strategic goals, options for restructuring or exiting a troubled joint venture, and ideas for developing an overall JV strategy. The reader also weighs the unique challenges to doing business in China.

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Examines the key elements and principles behind Haier's performance management system and the organizational behavioral context in which it was implemented. Haier's performance management system constituted a significant competitive advantage and was a key factor in the company's transformation from a small, backward, collectively owned local company to the number five player in the global white goods industry. The strength of the case lies in the universality of the key principles behind Haier's management performance systems.

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Take the world's most challenging market. Concentrate almost all your previously dispersed assets--12 joint ventures and wholly owned businesses--into one basket. Move the management of all of your regional activities to this location. Place access to your worldwide intellectual property on the table, and add $312 million for the portion of equity in a joint venture that gets you up to 50% plus one share. Then turn the venture's structure and governance on its head to build not only the most technically and sales-aggressive telecom competitor in the Chinese market, but one that also gives you access to Chinese brains and brawn in producing a global product for the global market. A recipe for revolution across the global marketplace or yet another misguided investment in China's elusive dream? Alcatel, France's venerable telecom giant, is betting the former. A 2004 EFMD award winner.

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